Reliance Power sells Indonesian step-down subsidiaries; stock up ~3%

29 Sep 2025 , 02:48 PM

Shares of Reliance Power surged as much as 2.7% to hit an intraday high of ₹45.98 on the NSE in Monday’s intraday session after the company announced the sale of its Indonesian step-down subsidiaries.

At around 1.48 PM, Reliance Power was trading 1.81% higher at ₹45.57, against the previous close of ₹44.76 on NSE. 

This stock development came after the company’s stock exchange filing detailed the strategic divestment.

The company informed the exchanges that it has inked a Share Purchase Agreement with Biotruster (Singapore) Pte. Ltd. for sale of its entire 100% equity stake in six Indonesian subsidiaries, including PT Avaneesh Coal Resources and PT Heramba Coal Resources.

The company entered into the transaction on September 29, 2025. It expects to complete the transaction on December 30, 2025.

These subsidiaries contributed nil income in the last financial year. However, they accounted for ₹16,909 lakh or 0.53% of Reliance Power’s consolidated net worth.

The company said that the transaction took place at a total consideration of USD 12 million (approximately ₹100 Crore), which will be receivable upon closing of the transaction. The company also clarified that the buyer, Biotruster (Singapore) Pte. Ltd., does not relate to the promoter or promoter group of the company.

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